Monetary policy framework - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T10:00:44+00:00Uncertainty, Inflation, and Welfare
https://www.bankofcanada.ca/2008/05/working-paper-2008-13/
This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings across households, and study the effects of inflation under the implied degree of market incompleteness.2008-05-08T12:19:21+00:00enUncertainty, Inflation, and Welfare2008-05-08Inflation: costs and benefitsMonetary policy frameworkWorking Paper 2008-13 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-13.pdfUncertainty, Inflation, and WelfareJonathan ChiuMiguel MolicoMay 2008EE4E40E5E50